The SGX Nifty signaled that domestic benchmark indices NSE Nifty and BSE Sensex might open in the green, as Nifty futures traded 31 points higher at 17,684.5 on the Singaporean exchange. On Wednesday, the markets extended losses, closing lower, with Nifty down 0.23% at 17,618 while Sensex settled at 17,618, lower by 0.27%.
“The dark clouds of weak Q4 numbers are haunting the domestic market leading to a consecutive third fall in the week. IT stocks continued their selling spree ahead of the release of earnings from other tech majors. Tepid cues from the global peers are also creating havoc as the market prices in the possibility of another rate hike by the Fed. The biggest risk for the market today is a downgrade in the corporate earnings forecast,” said Vinod Nair, Head of Research, Geojit Financial Services.
Stocks in focus on 20 April, Thursday
HCL Tech
The IT player is expected to report its Q4FY23 numbers on Thursday. The firm is expected to report a double-digit growth in revenue for the fourth quarter ended March 31, 2023, with estimates going as high as around 20.4%, aided by ramp up of deals, well distributed across large and medium sized deals.
Tata Communications
The board of directors recommended a dividend of Rs 21 per share of the face value of Rs 10 each for the financial year ended March 31, 2023.
IndusInd Bank
IndusInd Bank on Wednesday said it has entered into a long-term loan agreement of $100 million with Japan Bank for International Cooperation (JBIC) through its Gujarat-based GIFT City branch to fund Japanese construction equipment companies in India.
NBCC
Public Works Department, Puducherry awarded NBCC with work orders for providing comprehensive design, engineering and Project Management Consultancy (PMC) services for planning, designing and execution of disable accessible platform along roads, iconic cycle track, remodelling sewage system, recycled water network transmission and providing tertiary treatment plant works. The total consideration for this project is Rs 207.92 crore.
Equitas Small Finance Bank
The RBI granted the lender the Authorized Dealer Category-I (AD-I) License, which allows it to act as a dealer for foreign exchange.
ITC
The diversified conglomerate is set to acquire Sproutlife over the next three to four years.
Adani Ports and SEZ
Adani Ports board to consider partial buyback of debt securities in the financial year, either denominated in INR or USD, in this financial year, subject to market conditions.
